Although everybody already knew it was going to happen, it’s still news when you get the official word — Disney announced today it is buying animation studio Pixar, headed by Steve Jobs, under a deal valued at $7.4 billion. It’s an all-stock transaction; 2.3 Disney shares will be issued for each Pixar share.
Some personnel details:
— Pixar President Ed Catmull will serve as President of the new Pixar and Disney animation studios, reporting to Disney CEO Bob Iger and Dick Cook, Chairman of The Walt Disney Studios.
—Pixar Executive Vice President John Lasseter will be Chief Creative Officer of the animation studios, as well as Principal Creative Advisor at Walt Disney Imagineering, where he will help design new attractions for Disney theme parks around the world. He will report to Iger.
—Last but not least, Jobs will be appointed to Disney’s Board of Directors as a non-independent member and if press reports are any indication, Jobs will also be the single largest shareholder in the company.
I missed the investor call slated for 5:15 pm, but will jump on the replay as soon as it’s available and be back with an update.
Cynthia Brumfield at 6:28 PM|Comments(0)
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